Daily Brief TMT/Internet: LG CNS, Xiaomi Corp, Eureka Robotics, Waystar Holding and more

• LG CNS (LGCNSZ KS), the IT service unit of LG Corp (003550 KS), seeks to raise up to US$837 million through a primary/secondary offering.
• In LG CNS IPO: The Bull Case, we highlighted the key elements of the bull case. In this note, we outline the bear case.
• The bear case rests on fading growth momentum, mid-tier revenue growth, weak non-AI growth, high contract assets, bottom-tier FCF margin and large share overhang. 

• AI server BBU status being monitored to ensure no issues on the artificial intelligence server, ensuring smooth operations.
• TSMC’s global update highlights Japan, US, and Europe’s progress, showcasing Taiwan’s chip giant’s influence worldwide.
• Xiaomi investing in GPU cluster for faster processing, China’s Hua Hong appoints Intel veteran as President, South Korea investing $24.79 million in chip R&D projects.

• Singapore-based Eureka Robotics has raised US$10.5 million in Series A financing.
• B Capital spearheaded the round. New investors Airbus Ventures, Maruka Corporation, and G. K. Goh Ventures participated along with existing investors UTEC and ATEQ.
• Eureka Robotics was founded in 2018 to enable factories worldwide to automate dull, dirty, and dangerous tasks. The company leverages its proprietary technologies, which include high-accuracy calibration, computer vision, motion planning, and force control.

• Waystar provides cloud-based revenue cycle management and healthcare payments software solutions for healthcare organizations
• Platform streamlines billing, payments, and reimbursement processes for improved revenue collection and patient experience
• Offers two core segments with highly recurring revenue streams: software (financial clearance, claim management, denial management, revenue capture, analytics) and payments tied to transaction volumes

This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.